Streamline your business processes and avoid employee retrenchments
With a third of the global population in lockdown as a result of the COVID-19 pandemic, the impact on business is colossal. There is no doubt that we will see many companies close down over... Read More
Is inventory the foundation of your business?
Inventory to a supply chain company is like water in Maslow’s hierarchy of needs. Without water, we can’t survive, without inventory, as a supplier, you have no business. This should clearly indicate that the management... Read More
Managing & identifying supplier risk.
Suppliers are a vital link in the supply chain, and finding ones that are reliable, trustworthy, and efficient should be on the top of your priority list. We all understand that there will be times... Read More
An Inventory planner’s dilemma post-COVID-19
As of the 23rd March 2020, the COVID-19 virus has spread to 192 countries, killing more than 15 000 and infecting over 345 000. Besides the immense and tragic loss to lives, our economy is... Read More
Weekly or monthly forecasting – which is better?
Based on demand variation from week to week, a fair number of companies insist on doing their forecasting weekly. They believe that by doing this, it will be more accurate and improve their replenishment planning... Read More
Tips for supply chain startups to get you on the right track.
Starting a new business, especially in today’s very competitive landscape, comes with some serious challenges. Most often, it’s the small and basic tasks and activities that, if not done or not done correctly, can make... Read More
Is the outright purchase of software a thing of the past?
Most senior managers born in the ’60s or ’70s were taught by their parents that it was way better to buy items like software, buildings, and other assets to reduce the expenses incurred in interest... Read More
Inventory classifications – your first step towards better inventory health.
From the moment we are born, we are classified in some or other way. As we go through life, the classifications continue, and this data becomes vital for companies to determine whether we are their... Read More
What is safety stock, and factors to consider when calculating it?
Supply and demand are what drives the supply chain. In a perfect world, if our suppliers always delivered on time and in full, and we knew for sure how much customers would spend each month,... Read More
Implementation tips when implementing an inventory management system.
Lower inventory costs and higher customer fill rates lead to improved inventory balance and give your company a competitive edge. On the flip side, neglecting your inventory means reduced profits and reduced customer service levels,... Read More
When is the right time to implement an inventory management tool and what should you look out for?
Does this messy warehouse look familiar? If you are thinking about extending the functionality of your ERP to provide better demand planning and forecasting abilities, then this is the article for you. There are many... Read More
How to produce an accurate inventory forecast.
If you are not sure of what your sales are going to be tomorrow, how can you determine what you need to buy today? By being able to forecast your demand accurately means being able... Read More
Cracking the Bullwhip effect on your supply chain
When you crack a bullwhip, the whip handle moves 60 degrees, but the tip of the whip moves at 360 degrees. In supply chain operations, the amplification and distortion of demand fluctuations is a common... Read More
Where does your supply chain company sit on the Inventory Maturity curve?
Inventory or stock is the foundation of every supply chain operation. Like any foundation, you want it to be devoid of cracks so that you can focus on the business functions that matter. If you... Read More
Balancing internal and external supply chain risks.
There is more to an Inventory planner’s function than to manage the fine line between overstocking and understocking. There is an ongoing challenge to control other risk factors, both external and internal, to the business.... Read More
Minimize stock-outs without creating an excess stock crisis
With the technology products and tools available today, the phrase ‘stock outage” should never leave the lips of a warehouse manager. There is simply no reason whatsoever that any supply chain business should find itself... Read More
What is the real cost of your inventory and how to reduce it?
Your Inventory planner and your warehouse team must understand the figures involved when calculating the real cost of your stock. Although the companies expenses, liabilities, assets, etc. is not their responsibility, they should be made... Read More
How to minimize your inventory loss as a result of damaged, spoiled, and expired inventory.
In our previous article, we looked at inventory loss as a result of theft. We provided some tips on how to lessen your risk. In this article, we’re going to look at reducing risk on... Read More
Your profits could be walking out the door. What procedures do you have in place to minimize theft in your supply chain?
We all experience a certain amount of inventory shrinkage in our supply chain businesses. Still, if you don’t keep on top of this, it can result in a considerable amount of financial loss. Inventory loss... Read More
Safety stock is the key!
Achieving the magical balance of minimal inventory while meeting variable customer demand in the face of unreliable supply is only possible with optimal safety stock levels. Without optimal safety stocks, product availability and the value... Read More
Talking Sage Summit 2016 with Russ Graf from NETSTOCK
The dust is starting to settle on a busy and action-packed Sage Summit 2016 in Chicago. With nearly 15,000 people in attendance, the event was a must-visit for those connected with Sage Software. Among the... Read More
Time to ditch that inventory spreadsheet
Every day, we talk to frustrated inventory managers that are looking for ways to improve their inventory planning process. Often, they’re stuck on a spreadsheet to manage their ordering, and that’s why we’ve been glued... Read More
The scary reality of the “MASTER” spreadsheet
If you’ve been following along with the Inventory Mentor’s series on inventory spreadsheets like we have, you’ll be interested by their latest post. The gist is simple: you’ve put in a major effort to build... Read More
The complexities of inventory spreadsheets
We’ve been following the new series from the team over at The Inventory Mentor about inventory spreadsheets. Last week, they took a look at the issues around data and how unlikely it is that your... Read More
Does your inventory spreadsheet add up?
Managing an inventory spreadsheet means you need to manage lots of data. If you plug in quality inputs, then you’ll get decently reliable outputs; that’s not too complicated, right? Well, you might be missing a... Read More
Inventory spreadsheets come with a cost
If you deal with inventory forecasting, planning, or purchasing, you probably deal with Excel. It has become standard practice for inventory planners to run part or all of their replenishment process using a ‘MASTER’ spreadsheet.... Read More
The 9 steps to placing optimal replenishment orders
A review of stock-outs and items with excess inventory will generally lead to the conclusion that the orders placed were incorrect. Whilst there are many factors that contribute to stock-outs and excess, the best chance... Read More
What is more important – Inventory Management or Inventory Control?
Every business has an Inventory Control System which tracks the physical movement of inventory. These system are essential to account for inventory, track inventory and monitor inventory. What do Inventory Control Systems do? These systems... Read More
Lagging indicators are a death to sales
Most ERP systems can tell you when something has gone wrong: You are out of stock of an item and cannot fulfil your sales obligations You just received a purchase order, but it’s too much... Read More
The ABC’s of inventory classification
It is difficult to view hundreds, or even thousands, of inventory items every day and make an informed decision on what to buy, what’s running short and what you have too much of. The best... Read More
The main reasons stock-outs occur
What causes stock-outs? A common reaction to stock-outs is that “the buyer did not buy enough”. Stock-outs are bad for business, so it is important to understand the main reasons that stock-outs occur. In order... Read More
The impact of inventory risk on your business
As the owner/manager of a business you would have experienced the difficulties in getting the balance right between providing customers with a high level of service while targeting a specific inventory value or stock turn.... Read More
Do you know what your fill rate is?
Most businesses have only anecdotal information about their fill rate, relying on gut feel and previous experience. They will say things like “we can fulfil customer orders at least 85% of the time.” They get... Read More
Are you getting value from your inventory management system?
Are you still experiencing an unacceptable level of stocks out? Do you still have excess inventory? If you have an Inventory Management System (IMS) and the answer to these questions is yes, then you may... Read More